Nirav Modi and his uncle Mehul Choksi are being investigated by the Enforcement Directorate for allegedly cheating the PNB, the country's second largest lender, to the tune of more than $2 billion.
NBFCs are mainly dependent on funding their operation from their own cash flows.
Pakistan failed to fulfil six of the 27 mandates so far as a result of which the country continues to be in the grey list of the FATF.
Central Bureau of Investigation Director Ranjit Sinha on Monday said "collusive corruption" in which there is a willing bribe-giver is emerging as a "formidable" challenge for institutions fighting corruption.
"I am an international businessman. I travel to and from India frequently.
Reserve Bank of India Governor Shaktikanta Das on Friday said the central bank will ensure adequate liquidity in the system to ease the financial stress caused by the Covid-19 pandemic. The central bank reduced the reverse repo rate -- the rate at which banks park their fund with the central bank -- by 25 basis points to 3.75 per cent.
'At any given point in time, we expect only 25 per cent of our workforce will need to be in office.' 'And any given person will only be required to spend only 25 per cent of their time in office.'
A quick computation puts the following value to the seizures.
India's most wanted fugitive Dawood Ibrahim is not in Pakistan, a top Pakistani official has said.
It is the second firm to have received retrospective tax notice this year after Vodafone Group.
The Russians had appealed their exclusion from the Games by the International Olympic Committee (IOC) over the doping scandal from the 2014 Sochi Games.
In order to cripple and check the activities of wilful tax defaulters, the Income Tax department has decided to "block" Permanent Account Number (PAN) of such entities, get their LPG subsidy cancelled and take measures to ensure that they are not sanctioned loans.
'The RBI has not allowed any commercial bank to fail in the past three decades.' 'It has always played the role of a matchmaker, but this is the best deal it has stitched,' notes Tamal Bandyopadhyay.
Events in America have strengthened the hand of those leaders there who wish India well, but think of India as being a collection of Indians.
If Indians are mistreated, they will object, asserts Aakar Patel.
The Bill says that the central government, in consultation with the Data Protection Authority, can direct any data fiduciary or data processor to provide non-personal data to enable better targeting of delivery of services. The government can also ask data processors to provide data for formulation of evidence-based policies for its own use.
External Affairs Ministry Spokesperson Raveesh Kumar said India has friendly ties with both the countries.
A United Nations Security Council panel has issued a 'revised' letter removing the term 'sahib' from the name of Mumbai terror attack mastermind and JuD chief Hafiz Saeed, saying it regrets the mistake after India objected to the use of the salutation.
Forex market was shut on Tuesday on account of 'Mahavir Jayanti'.
As part of their deal Diageo agreed to pay Mallya, $75 million for stepping down as chairman of United Spirits and for entering into a non-compete pact
'Individuals have been found providing money to major terrorist groups, Hurriyat leaders, separatists and stone-pelters in Jammu and Kashmir.'
The perpetrators of the 2008 Mumbai attack, who shot dead 166 people, had confessed to details that should have been enough to hang him, but Pakistan enjoyed his anti-India rhetoric and let him spread his tentacles. A revealing excerpt from Khaled Ahmed's Pakistan's Terror Conundrum.
The agency said it searched a Mumbai-based operator who was running 700 shell companies with 20 dummy directors and had "converted Rs 46.7 crore for Chaggan Bhujbal", the jailed ex-Maharashtra deputy chief minister.
The department has calculated and arrived at the figure and may raise two separate demands.
Mallya said the allegations of money laundering and stealing money against him are 'completely false'.
Vijay Mallya on Wednesday gave a proposal to the Supreme Court to repay around Rs 4,000 crore (Rs 40 billion) loan to banks by September this year.
The company faces a potential tax demand.
According to Pakistan's National Counter Terrorism Authority (NACTA) list, which was updated on Tuesday, JuD and FIF were among 70 organisations proscribed by the ministry of Interior under the Anti-Terrorism Act 1997.
More than 1,000 independent directors have quit since January 2017; more could be on their way out
The president of a top Honduras football club and two family members were charged by US authorities on Wednesday with engineering a decade-long scheme to launder drug trafficking and foreign bribery proceeds through US accounts.
'Perhaps the biggest indication was its striking decision in November to delink LeT from its aid certification process.' 'The administration decided that the US, in order to send military aid to Pakistan, would not need to certify that Pakistan is cracking down on LeT.' 'Perhaps the administration was trying to offer a carrot -- in effect, we're backing off on LeT, but in return we expect you (Pakistan) to go after the Haqqanis.' 'Either way, the optics were dreadful for the US given that Hafiz Saeed was released from house arrest a few days after the US move.' 'The US reacted angrily, but eventually it moved on, and refocused on its core concern: The Afghan-focused terror groups.'
In more trouble for Finnish mobile firm Nokia, whose immovable assets were attached in an alleged tax evasion case recently, the Income Tax department is set to issue fresh demand notices for payment of taxes to the tune of Rs 1,000 crore (Rs 10 billion).
Pakistan has said that fugitive underworld don Dawood Ibrahim is not present in the country, a day after India asserted that its most wanted terrorist was living in the neighbouring country.
India's most wanted terrorist Dawood Ibrahim is in Pakistan and joint efforts with the United States were being made to nab him, Union Home Minister Sushilkumar Shinde said on Friday.
Sebi directs freezing of all demat accounts not linked to Aadhaar by December 31
To safeguard investors of firms listed on non-operational bourses, market regulator Sebi on Monday allowed such companies to raise capital through preferential allotment route to meet listing requirements.
Sebi has been given direct powers to freeze bank accounts, attach properties, conduct search and seizure and initiate recovery proceedings.
Rejecting the contention of the auditors and others that they cannot be treated as part of the management, which is responsible for managing the affairs of the company and therefore should not be charged as per the said section, the NCLAT said that rules of natural justice are to be followed.
In a major crackdown on domestic shell companies, the government on Friday decided to take "harsh punitive" action, including freezing of their bank accounts used to launder money or evade taxes.
Trading such scenarios takes discipline.
Fresh investments by corporates up just 5.8% in FY17, lowest since 1992
